1616 Chestnut StMishawakaIN46545
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Mishawaka at 1616 Chestnut St, Mishawaka, IN, 46545 priced at $220,000 converts $1,836/mo rent into $510/mo cash flow after a $1,077/mo obligation. Total monthly income equals $1,836/mo, and annual cash flow totals $6,120/yr on $72,930 invested. Return on cash invested prints 28.3% in year one, and rental yield reads 10.01% against a $220,000 entry. Equity gained on principal adds $1,420/yr, while 5% annual appreciation compiles into $60,782 by year five. Five-year ROI reaches 147.71% and total cumulative return in cash sums $107,723. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,836/mo property income covering a $1,077/mo payment, not borrower’s personal income.
Single Family
Built in 1978
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46545, Mishawaka, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,875 (100%) |
| Owner Occupied HU | 5,878 (45.7%) |
| Renter Occupied HU | 6,229 (48.4%) |
| Vacant Housing Units | 768 ( 6.0%) |
| Median Home Value | $216,798 |
| Average Home Value | $272,129 |
Housing Distribution
Address Breakdown
Residential
12,564
Single Family
8,202
Multi-Family
4,362
Businesses
1,316
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Listed by: Rocky Verteramo • Keller Williams Realty Group
Mls Name: IRMLS
Mls Provider:
Mls ID: #202516172
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.